Mining industry adviser, RungePincockMinarco Ltd
(ASX:RUL), says it has lost a court case in Russia.
Initially, RPM sued a Russian company in the Arbitration Court of Moscow to recover US$ 988,500 in professional fees.
Not only did RPM’s claim for unpaid debts fail, but, the Court ordered RPM to refund US$350,000 in fees that it had already paid by that Russian company.
RPM believes the Court’s judgment was without merit, and has lodged an appeal.
RPM reported a net loss of $1.1 million at 31 December 2015.
